Comprehensive Technical Analysis of Bitcoin and Ethereum: Short-term Trading, Wealth is Within Reach!
Analyze the market trend and predict future trends, mainly discussing the price movements of Bitcoin and Ethereum, as well as wealth codes and long/short ambush points!
First, let's look at the 4-hour K-line trend of BTC:
Resistance level is in the range of 94737 to 96414.
Support level is in the range of 92686 to 91125.
Next, let's look at the 4-hour K-line trend of ETH:
Resistance level is in the range of 1840 to 1927.
Support level is in the range of 1748 to 1683.
Now, let's move on to technical analysis:
1. The current 4-hour K-line of Bitcoin is showing a volume contraction while rising. At 7:20 AM, the 4-hour K-line is consolidating within the rising price channel, and the volume performance is not very good. Everyone should pay attention to the indicated resistance level above, and avoid blindly chasing highs. At the support level of the indicated asset, consider taking long positions or spot arrangements.
2. The trend indicators in the daily, medium, and small cycles below Bitcoin are all showing multi-cycle resonance bullish trends. Short-term trading can take long positions on dips.
3. The MACD indicators for the 1-hour to 2-hour cycles of Bitcoin have shown a form of no-root water, indicating a need for price correction. Short-term trading should still focus on buying on dips. In the 30-minute small cycle, once the price corrects to the EMA60 moving average, double bottom, or important neckline support level, it is the best opportunity to enter long positions.
The mindset for spot trading is: when the price corrects to the indicated support level above, you can lightly enter long positions.
If anyone is confused by market fluctuations and unsure how to deal with being stuck in positions, or feels misled during trading, feel free to reach out for discussion!
